The SFC has censured and fined Bright Smart Securities (Hong Kong) Limited HKD2.8 million for failing to implement adequate and effective internal controls to monitor and detect client wash trading. The firm said it accepts the penalty, completed remediation in September 2025, and that its internal-control technology now meets regulatory requirements. Bright Smart added the matter did not involve cybersecurity issues and did not affect client trading or funds.

2026-07-27

The SFC has censured and fined Bright Smart Securities (Hong Kong) Limited HKD2.8 million for failing to implement adequate and effective internal controls to monitor and detect client wash trading. The firm said it accepts the penalty, completed remediation in September 2025, and that its internal-control technology now meets regulatory requirements. Bright Smart added the matter did not involve cybersecurity issues and did not affect client trading or funds.